The major Japanese electronics manufacturers accompanied their half-time figures with forecasts of better than expected sales and profits for the full year, which ends on March 31. Hitachi Ltd is now forecasting sales for the year of $25,600m and profits of $1,520m, up from a previously forecast $1,440m. This would be the company’s first rise in turnover since 1984, when the rise in the value of the yen started to bite. Toshiba Corp is now forecasting sales of $22,640m, against a previous forecast of $21,520m, and profits of $960m against the $640m it had been looking for. Mitsubishi Electric also raised its sales forecast to $16,800m from $16,000m, and its profit forecast to $664m. Profit in the sector has been growing an average 140%.
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